Nigeria, May 7 -- Following the announcement of the implementation of the cybersecurity levy on transactions, the Central Bank of Nigeria on Monday listed transactions granted exemption from the levy.

The bank earlier directed all banks to charge a 0.5 per cent cybersecurity levy on all electronic transactions within the country starting two weeks from 6 May.

"The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer's account with the narration, 'Cybersecurity Levy'," it said.

The directive and the exemption list were contained in a circular signed by the Director, Payments System Management Department, Chib...